LegionQ8

Binance Coin can continue to fall and break support of triangle

Short
BINANCE:BNBUSDT   Binance Coin / TetherUS
Hello traders, I want share with you my opinion about Binance Coin. When observing the chart, we can see how the price bounced from the level 300 and started an upward movement. Subsequently, Binance Coin reached the level 330, made a deep correction, continued to grow and broke through the current resistance level. The price rose to mark 350, where the upward movement was completed and the BNB began to decline. Over time, Binance Coin created a downward triangle and is currently trading in the within. We see that after the fake breakdown of the support area 320-315, the price rose to the resistance line of the triangle, formed a downward impulse, made a correction uphill and continued to fall. Not long ago, Binance Coin re-tested the resistance line, bounce off, started falling, and broke through the support level 330. After retesting the current resistance level, the price continued to decline and approached the support area. Binance Coin is currently trading over the support area, but can continue the downward movement and break through it. I think the price after a possible breakthrough of the support area can leave the triangle and continue to decline. In this case, I decided to set the targets in zone 320-315 and at level 310. Please share this idea with your friends and click Boost 🚀
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